US Stocks Rally as Chip Sector Rebounds and Investors Brush Aside Canada Trade Tensions Ahead of Nvidia Earnings

US equities gained Tuesday as investors looked past the Canada tariff escalation and rotated back into semiconductor names ahead of Nvidia's Wednesday earnings report. The S&P 500 rose 24.42 points (+0.3%) to 7,677.28, the Dow Jones Industrial Average rose 160.24 points (+0.3%) to 53,577.40, and the Nasdaq Composite rose 171.11 points (+0.7%) to 26,151.30. Nvidia shares gained about 2%, snapping a seven-day losing streak. The benchmark 10-year Treasury yield fell more than 7 basis points to 4.625%, easing off the prior week's 19-year highs, while markets also weighed expectations for incoming Fed Chair Kevin Warsh's first Jackson Hole speech (Aug 28).